Auto Loan Calculator - Car Payment & Total Cost Calculator
Calculate monthly car payments, total interest, and true cost of auto loans. Compare loan terms, factor in down payment, trade-in value, and sales tax. Make informed car buying decisions with accurate payment projections.🔒 All processing happens in your browser. Your data never leaves your device.
🚗 True Cost of Car Ownership
Monthly payment is just the beginning. Add insurance ($100-200), gas ($150-300), maintenance ($100+), registration ($50+). A $500/month payment actually costs $900-1,150/month. Budget for total transportation, not just the loan.
Smart Buy
20% down, 48 months
Payment = 10-15% income
Stretching It
10% down, 60 months
Payment = 15-20% income
Car Poor
0% down, 72+ months
Payment > 20% income
20.0% down
How to Use
- 1Enter vehicle purchase price
- 2Input down payment (20% recommended)
- 3Add trade-in value if applicable
- 4Select loan term (36, 48, 60, 72 months)
- 5Enter interest rate (check current rates)
- 6Add sales tax percentage for your state
- 7Calculate to see monthly payment and total cost
Example
Input:
$30,000 car, $6,000 down, 60 months at 6.5%, 7% taxOutput:
Monthly: $485 | Total paid: $29,100 | Interest: $3,900Frequently Asked Questions
What's the best loan term for a car?
48-60 months is ideal sweet spot. 36 months: Higher payment but less interest and stay above water (car value > loan). 72-84 months: Lower payment but HIGH interest, upside down longer, likely overlapping with repairs. Never finance longer than expected ownership.
How much car can I afford?
20/4/10 rule: 20% down, finance max 4 years, total transportation costs (payment + insurance + gas + maintenance) under 10% of gross income. $60K income = $500/month max for ALL car costs. Many violate this - don't be car poor!
Should I buy new or used?
New: Depreciate 20-30% year 1, 60% in 5 years. $30K new = $12K value after 5 years = $3,600/year depreciation. Used (2-3 years old): Already depreciated 40%, similar reliability, $10K+ savings. Certified Pre-Owned splits the difference with warranty.
📚 Complete Guide to Auto Loan Calculator
Auto Loan Calculator is a practical tool for turning inputs into a clear, reproducible output. The goal is not only to get an answer quickly, but to get an answer you can explain, verify, and repeat.
In everyday terms: Calculate auto loan payments. In professional use, clarity about definitions, assumptions, and formatting often matters as much as the numeric or structural result itself.
This guide explains what the tool does, the concepts behind it, how to use it responsibly, and how to validate results so they are reliable for planning, reporting, and real-world decisions.
🔬 Core Technical or Conceptual Foundations
Auto loans typically amortize like other installment loans: principal, interest rate, and term determine payments.
Total cost includes interest and sometimes fees; the purchase decision also depends on depreciation and insurance costs.
Down payment and trade-in values change the financed amount and can materially affect payments.
📊 Advanced Capabilities & Metrics
Compare offers by total cost and APR, not just monthly payment, especially when terms differ.
Extra payments can reduce interest and shorten term, but confirm whether the lender applies them to principal as intended.
For buyers, consider total cost of ownership (fuel, maintenance, insurance) alongside financing.
💼 Professional Applications & Use Cases
🚗 Consumer purchase planning
Supports affordability checks and offer comparisons for different terms and rates.
🏦 Dealer and lender support
Used to illustrate payment scenarios and validate calculations.
📊 Budgeting and cash-flow planning
Helps households plan recurring obligations and evaluate trade-offs.
⚖️ Legal, Regulatory, or Compliance Context (If Applicable)
If using results in regulated disclosures, follow required APR and fee methodologies.
Document assumptions (fees, term, rate type) to prevent misleading comparisons.
Consult professionals for legal/financial decisions when needed.
🎓 Academic, Scientific, or Research Applications
Auto loans are practical examples for amortization, interest, and consumer finance education.
🧭 Personal, Business, or Planning Use Cases
Use the calculator to compare “lower rate/shorter term” vs “lower payment/longer term” scenarios.
Include ownership costs beyond the loan payment in your budget.
📋 Milestones, Thresholds, or Reference Tables (If Applicable)
Payoff date and interest-to-principal transition over time.
Break-even points for refinancing or paying extra (context-dependent).
✅ Accuracy, Standards & Reliability
Match compounding/payment frequency to the contract.
Include fees where they affect total cost.
Treat results as estimates when taxes/fees vary by location.
🧾 Disclaimer
Disclaimer: While this tool provides highly accurate calculations suitable for most professional and personal use cases, results should not be considered a substitute for certified professional advice in legal, medical, financial, or regulatory matters.
🧩 Additional Notes & Tips
Monthly payment is not the full cost
Auto ownership includes insurance, fuel, maintenance, registration, and depreciation. A “comfortable payment” can still create budget stress if total transportation costs are too high.
Avoid being upside down
Long terms and small down payments increase the chance you owe more than the car is worth. That can trap you if you need to sell or if the car is totaled.